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January 28, 2014

Don't Buy a Used Car until you Read These 5 Tips

Buying a quality used car makes a lot of sense as it will not suffer the same depreciation as a new car. There are many good used cars available for purchase and with a bit of care and attention you can snag yourself a bargain.

Here are five tips to helping you secure a good buy.

Do the Research

This is the most important tip in buying a used car. Don’t scrimp on the research. Read all you can about different makes and models and also look at online forums to find out what other car owners are saying. There is some expert advice available from roadside assistance groups and also consumer choice advocates. You can find out exactly how much you should pay for a car, depending on the mileage and the condition of the vehicle. Don’t pay any more than this. Secure the amount of finance you need from a finance provider like Dreamloanswho can help you set up a loan with monthly payments that are manageable on your income. Do your research thoroughly and make sure you are making an informed choice.

Ask the Right Questions

While you are doing your research you will be alerted to a number of issues that you need to ask about when inspecting a vehicle. Write these questions down as soon as they come up so you don’t forget to ask them. Take your list of questions with you when you go car shopping. Car blogs will be a good source; check out the questions people are asking and if they are important to you, write them down.

Don’t be Desperate

Buying a used car is a bit of a bluffing game. If the owner of the car senses that you are head over heels in love with the car they will leverage that against you. Try to keep you cool and don’t appear desperate. The most powerful thing you can do is be prepared to walk away from the deal. Don’t get emotionally attached to any single car and you will be able to negotiate a great deal.

Have the Money

Make sure you have already arranged the finance. That way you can take advantage of a good deal when it arises. If you strike a bargain and then have to wait for a loan to be approved you will lose some of your bargaining power. Having the money ready to go will cause car sellers to take you seriously. Cash is a very powerful tool and if you bring it out at the right time it will generally persuade sellers to accept your proposition.

Take a Third Party

Always take someone with you to check out a used car, preferably someone who has a bit of knowledge about cars. A second opinion is invaluable. Taking someone with you will help protect you from making an impulse buy that could end up a mistake. A third party will not be emotionally involved in the purchase and can be the voice of reason when it comes to deciding what the car is actually worth.